About

 

Who we are

Letsema is a black-owned, values-driven investment holding company dedicated to South Africa’s long-term growth and transformation. Established in 1996 as a family office, we believe business must be a force for enduring, positive change in society.

Our name, Letsema, is derived from Sotho, meaning “people coming together to work for a common purpose.” This spirit of collective effort defines our approach to partnership, impact, and nation-building.

We collaborate with exceptional business owners and operational teams to drive sustainable, long-term growth. Whether through directly managed entities or strategic partnerships, our work is grounded in trust, mutual respect, and a shared vision—achieving more together than we could alone.

Our diversified portfolio spans both directly managed businesses and partnership investments. Across our group and associate companies, we support more than 4,500 people, including over 250 professionals. As a Level 1 B-BBEE contributor, we are proud to play an active role in South /Africa’s economic transformation.

Letsema is committed to carrying the shared responsibility of building South Africa—harnessing a values-based investment model to create meaningful, lasting impact through sustainable business.

 

Founding Principles

Letsema was founded on five principles…

Business as a catalyst for social change

If a business operates  merely to make money  then it is short-sighted.  Creating social change  secures not only the future  of our country but  ensures the sustainability  of all business for decades  to come.

A family where no one looks thesame

We believe diversity drives  optimal partnerships,  innovative thinking and  sustainable impact.

Fostering relationships that last

Our way of work focuses  on laying the foundations  to achieve long term,  sustainable success. We  seek to empower our  clients and partners with  the tools, insight and skills  required to chart a  successful path into the  future.

Building an enduring institution

Institutions are only as  sound as the foundations  they are built upon. Our  emphasis upon integrity,  excellence and diversity  ensures our continued  ability to offer outstanding  service to our clients and  partners, making us  stronger.

African with global aspirations

As a South African  company with African  reach and a global  mindset, our identity and  hunger for success has  been shaped by our  surrounding environment.  We recognise our  responsibility to be a social  actor of impact wherever  possible, while remaining  moored to our origins.

Our Founders

A multi-decade partnership

Isaac Shongwe

Isaac Shongwe

Founder & Chairman

  • Education at Wesleyan University (USA) and became the second black South African to be awarded a Rhodes Scholarship for Oxford in 1989
  • BA Honours, Politics and Economics, Wesleyan University, and MPhil, Management Studies, Oxford University
  • Founded Letsema in 1996
  • Chairman of the Wits University Council
  • Established the Africa Leadership Initiative (ALI) in 2003, it now has a strong footprint of influential, values-based leaders across Africa
  • Henry Crown Fellow
Derek Thomas

Derek Thomas

Founder & CEO

  • BCom Honours, Economics and MEcon, Economics (University of the Witwatersrand) and MSc, Economics, University of London
  • Joined Letsema in 1996
  • African Leadership Initiative Fellow
  • Aspen Global Leadership Network & African Leadership Initiative moderator
  • Director of Emira Property Fund Limited
  • Chairman of the Board for JSE listed company, Transpaco Limited
  • Manages Letsema’s Partnership investments

Our Group Executives

Our Group Executives combine their group roles with being deployed to lead our directly managed investments  

Katlego Tlale

Katlego Tlale

Chief Financial Officer

  • BAcc (Wits University) & CA(SA), currently MSC Engineering in Mining (Wits University)
  • Joined Letsema in 2017
  • Was prior to Letsema Group Financial Reporting & Treasury at GoldOne and Audit Manager in KPMG’s resources practice
  • Young African Leadership Initiative (YALI) Fellow, an Aspen Institute affiliate
  • Non-executive Director of Merafe Resources Ltd
Keith van Niekerk

Keith van Niekerk

Executive: Investments

  • B.Bus.Sci Finance Honours (UCT), CFA Level 1 & CA(SA)
  • Joined Letsema in 2013
  • 5 years in early-stage private equity post articles at EY
  • Responsible for the full deal lifecycle from pipeline generation, fundraising, deal closing to post investment portfolio management, portfolio company M&A and fund-raising
Luke Mc Lachlan

Luke Mc Lachlan

Executive: Strategy

  • B.Bus.Sci Finance (UCT)
  • Joined Letsema in 2006
  • Luke joined Letsema Consulting for 3-years before moving into the Group and has played various roles including being deployed to manage group subsidiaries
  • Responsible for group strategy and provider of executive and strategic support to portfolio companies